Publication: Poland : BCBS-IADI Core Principles for Effective Deposit Insurance Systems
Loading...
Published
2013-05
ISSN
Date
2014-01-30
Author(s)
Editor(s)
Abstract
During February 19-March 4, 2013 an assessment under the International Monetary Fund (IMF)/World Bank Financial Sector Assessment Program (FSAP) was conducted for the Republic of Poland. Poland's financial system has been expanding rapidly and remains dominated by banks. The total assets of the financial system grew from 86 percent of Gross Domestic Product (GDP) in 2005 to 124 percent of GDP in 2012. The banking system is dominated by a handful of foreign-owned banks. They control about 65 percent of the sector's assets-a sizeable proportion, but lower than in the Czech Republic, Hungary, and Slovakia. The Polish banking system is well capitalized and liquid. In aggregate, capital adequacy reached 14.7 percent, 90 percent of which is tier capital. Banks' profits in 2011 and 2012 were historically high, and regulations restricting dividend payouts aided capital building. Regulatory and supervisory efforts have helped improve the resilience of the banking system, but the economic slowdown will pose some challenges for banks. Poland's regulatory, supervisory, and resolution frameworks are influenced by developments at the European Union (EU) level. As a member of the EU, Poland is obliged to comply with EU directives when they come into force. Poland is expected to be in line with the changed EU Directives on deposit insurance systems, and on the new EU Directive on bank recovery and resolution. The ongoing modernization of Poland's financial system and challenging macroeconomic environment pose challenges to the supervisory and regulatory system. Accounting and disclosure regimes support the ability of the supervisor and deposit insurer to adequately evaluate the health of individual banks and the banking system as a whole.
Link to Data Set
Citation
“World Bank. 2013. Poland : BCBS-IADI Core Principles for Effective Deposit Insurance Systems. © World Bank. http://hdl.handle.net/10986/16748 License: CC BY 3.0 IGO.”
Digital Object Identifier
Associated URLs
Associated content
Other publications in this report series
Journal
Journal Volume
Journal Issue
Collections
Related items
Showing items related by metadata.
Publication Financial Sector Assessment Program - Albania : Core Principles for Effective Deposit Insurance Systems(World Bank, Washington, DC, 2014-02)This assessment of compliance with the core principles for effective deposit insurance systems (core principles) was conducted as a part of the Financial Sector Assessment Program (FSAP) performed by the International Monetary Fund and the World Bank at the request of the Albanian government. This assessment was conducted by Claire McGuire, Senior Financial Sector Specialist with the World Bank, during a mission to Albania from October 28th to November 11th, 2013. The assessment was based on a review of relevant laws, regulations and regulatory and supervisory practices related to the banking sector and the operations of ADIA. Multiple meetings were held with various employees of the Bank of Albania (BOA), Ministry of Finance (MOF), the Banker's Association, the two savings and credit associations, and ADIA. ADIA completed a self-assessment in preparation for the FSAP.Publication Financial Sector Assessment Program : Malaysia - Core Principles for Effective Deposit Insurance Systems(World Bank, Washington, DC, 2013-02)This assessment of compliance with the Core Principles for Effective Deposit Insurance Systems (Core Principles) was conducted as a part of the Financial Sector Assessment Program (FSAP) performed by the International Monetary Fund and the World Bank at the request of the Malaysian government. This assessment was conducted by Claire McGuire, Senior Financial Sector Specialist with the World Bank, during a mission to Malaysia from March 27 to April 13, 2012. The assessment was based on a review of relevant laws, regulations and regulatory and supervisory practices related to the conventional banking sector and the operations of PIDM. There has been no experience with bank failures in Malaysia since Perbadanan Insurans Deposit Malaysia (PIDM's) establishment in 2005. As a result the assessment looked at the relevant provisions of the legal framework without consideration of how the laws had been applied in practice or interpreted by the courts. Several weaknesses in the legal framework have been noted in this assessment.Publication Financial Sector Assessment Program : Nigeria - Basel Core Principles for Effective Banking Supervision(World Bank, Washington, DC, 2013-05)The assessment of the current state of the implementation of the Basel Core Principles (BCP) for effective banking supervision in Nigeria, against the BCP methodology issued by the Basel Committee on Banking Supervision (BCBS) in October 2006, was completed between August 27 and September 19, 2012, as part of a Financial Sector Assessment Program (FSAP) update, undertaken jointly by the Fund (IMF) and the World Bank, and reflects the regulatory and supervisory framework in place as of the date of the completion of the assessment. An assessment of the effectiveness of banking supervision requires a review of the legal framework, both generally and as specifically related to the financial sector, and a detailed examination of the policies and practices of the institutions responsible for banking supervision. Banking systems differ from one country to another, as do their domestic circumstances. The BCPs are capable of application to a wide range of jurisdictions whose banking sectors will inevitably include a broad spectrum of banks. The co-ordination of the activities of the Nigerian banking sector supervisory authorities is conducted under the aegis of the Central Bank of Nigeria (CBN)/Nigeria Deposit Insurance Corporation (NDIC) executive committee on supervision which should ensure that operations of the two supervisory authorities are coordinated to remove overlaps, avoid gaps and ensure adequate information sharing on issues of supervisory concern. The Financial Services Regulation Coordinating Committee (FSRCC) provides the platform for the co-ordination among and information sharing with regulatory authorities, inter alia with reference to financial sector stability, and supervision of financial conglomerates, financial holding companies and bank holding companies. The Nigerian economy has experienced a number of domestic and external shocks in recent years, which impacted the banking sector. The Nigerian economy emerged from the banking crisis, and has the potential to enjoy an extended period of strong economic growth.Publication Malaysia - Insurance Core Principles : Detailed Assessment of Observance(Washington, DC, 2013-02)This assessment provides an understanding of the significant regulatory and supervisory framework for the insurance sector of Malaysia. The assessment was conducted by Mark Causevic (external expert from OSFI Canada) during April 2012. Malaysia is undertaking the Financial Sector Assessment Program (FSAP) for the first time, and it includes a formal assessment of its observance with the Insurance Core Principles (ICPs) issued by the International Association of Insurance Supervisors (IAIS). The Malaysia market has been growing for Islamic insurance products (family takaful, general takaful, and re-takaful). The ICPs were not specifically developed with Islamic insurance products in mind. Consequently, based on the scope that was agreed upon prior to the start of the assessment work, details on the regulation, supervision and various workings of Malaysian Islamic insurance market are included in this report, but they do not form part of the ICP assessment ratings for Malaysia.Publication Financial Sector Assessment Program Update : Saudi Arabia - Basel Core Principles for Effective Banking Supervision(World Bank, Washington, DC, 2011-09)This assessment of Saudi Arabian Monetary Agency's (SAMA) compliance with the basel committee's core principles for effective banking supervision was conducted by a mission to Saudi Arabia during April 9-20, 2011. The assessment was carried out as part of a Financial Sector Assessment Program (FSAP) update undertaken by the International Monetary Fund (IMF) and the World Bank at the request of the Saudi authorities. The authorities requested that the assessment of compliance be conducted using only the essential criteria in the methodology. This assessment was based on a review of laws, regulations, policies and practices in place at the time. The financial system is subject to risks reflecting the openness of the economy and dependence on the hydrocarbon sector, as well as the size of the market. Saudi Arabia implements International Financial Reporting Standards (IFRS) for banks and insurance companies and is served by the major accounting firms. There has been no need to provide emergency liquidity assistance (ELA) to any bank in recent years. The conditions in which SAMA will provide ELA would be determined on a case-by-case basis, as will the terms on which such ELA will be provided.
Users also downloaded
Showing related downloaded files
Publication State and Trends of Carbon Pricing 2024(Washington, DC: World Bank, 2024-05-21)This report provides an up-to-date overview of existing and emerging carbon pricing instruments around the world, including international, national, and subnational initiatives. It also investigates trends surrounding the development and implementation of carbon pricing instruments and some of the drivers seen over the past year. Specifically, this report covers carbon taxes, emissions trading systems (ETSs), and crediting mechanisms. Key topics covered in the 2024 report include uptake of ETSs and carbon taxes in low- and middle- income economies, sectoral coverage of ETSs and carbon taxes, and the use of crediting mechanisms as part of the policy mix.Publication Global Economic Prospects, June 2025(Washington, DC: World Bank, 2025-06-10)The global economy is facing another substantial headwind, emanating largely from an increase in trade tensions and heightened global policy uncertainty. For emerging market and developing economies (EMDEs), the ability to boost job creation and reduce extreme poverty has declined. Key downside risks include a further escalation of trade barriers and continued policy uncertainty. These challenges are exacerbated by subdued foreign direct investment into EMDEs. Global cooperation is needed to restore a more stable international trade environment and scale up support for vulnerable countries grappling with conflict, debt burdens, and climate change. Domestic policy action is also critical to contain inflation risks and strengthen fiscal resilience. To accelerate job creation and long-term growth, structural reforms must focus on raising institutional quality, attracting private investment, and strengthening human capital and labor markets. Countries in fragile and conflict situations face daunting development challenges that will require tailored domestic policy reforms and well-coordinated multilateral support.Publication World Development Report 2003(World Bank, 2003)Three billion people will be added to the world ' s population over the next 50 years and 2.8 billion people today already live on less than $2 a day-almost all in developing countries. Ensuring these people have access to productive work and a better quality of life is the core development challenge of the first half of this century. Growth could itself be jeopardized over the longer term, unless a transformation of society and the management of the environment are addressed integrally with economic growth. Now in its 25th edition, this year ' s World Development Report examines, over a 50 year period, the relationship between competing policy objectives of reducing poverty, maintaining growth, improving social cohesion, and protecting the environment. The World Development Report 2003 emphasizes that many good policies have been identified but not implemented due to distributional issues and barriers to developing better institutions. The Report reviews institutional innovations that might help overcome these barriers and stresses that ensuring economic growth and improved management of the planet ' s ecosystem requires a reduction in poverty and inequality at all levels: local, national, and international. As in previous years, the report contains an appendix of selected indicators from the World Development Indicators.Publication Digital Africa(Washington, DC: World Bank, 2023-03-13)All African countries need better and more jobs for their growing populations. "Digital Africa: Technological Transformation for Jobs" shows that broader use of productivity-enhancing, digital technologies by enterprises and households is imperative to generate such jobs, including for lower-skilled people. At the same time, it can support not only countries’ short-term objective of postpandemic economic recovery but also their vision of economic transformation with more inclusive growth. These outcomes are not automatic, however. Mobile internet availability has increased throughout the continent in recent years, but Africa’s uptake gap is the highest in the world. Areas with at least 3G mobile internet service now cover 84 percent of Africa’s population, but only 22 percent uses such services. And the average African business lags in the use of smartphones and computers as well as more sophisticated digital technologies that catalyze further productivity gains. Two issues explain the usage gap: affordability of these new technologies and willingness to use them. For the 40 percent of Africans below the extreme poverty line, mobile data plans alone would cost one-third of their incomes—in addition to the price of access devices, apps, and electricity. Data plans for small- and medium-size businesses are also more expensive than in other regions. Moreover, shortcomings in the quality of internet services—and in the supply of attractive, skills-appropriate apps that promote entrepreneurship and raise earnings—dampen people’s willingness to use them. For those countries already using these technologies, the development payoffs are significant. New empirical studies for this report add to the rapidly growing evidence that mobile internet availability directly raises enterprise productivity, increases jobs, and reduces poverty throughout Africa. To realize these and other benefits more widely, Africa’s countries must implement complementary and mutually reinforcing policies to strengthen both consumers’ ability to pay and willingness to use digital technologies. These interventions must prioritize productive use to generate large numbers of inclusive jobs in a region poised to benefit from a massive, youthful workforce—one projected to become the world’s largest by the end of this century.Publication Revisiting the Distributive Impacts of Fiscal Policy in Colombia(World Bank, Washington, DC, 2023-07-18)Colombia is one of the most unequal countries in the region and the world. Given the redistributive role of fiscal policy, this study uses recent data from the 2021 Integrated Household Survey to explore the impacts of taxes and spending on poverty and inequality in Colombia. The study introduces innovations to the literature on Colombia, including an update of the fiscal microsimulation model to reflect the most recent economic context; an introduction of new fiscal policy parameters, such as gasoline subsidies and carbon taxes; and methodological improvements. The results show positive redistributive impacts, but these are considerably lower than those seen in other country members of the Organisation for Economic Co-operation and Development (OECD). Direct taxes and transfers reduce the Gini index from 0.543 to 0.505; and direct taxes, indirect taxes, subsidies, and monetary transfers reduce total poverty from 42.1 to 40.2 percent and extreme poverty from 16.1 to 11.7 percent. Direct taxes, transfers, and subsidies are progressive and contribute to poverty reduction, while indirect taxes such as the value-added tax or consumption tax are regressive and do not reduce poverty. This reflects a tax system that is progressive, but not progressive enough (with a low proportion of the population with high levels of income contributing), and cash transfer and subsidy programs that have room for improvement in their targeting.